Twiga Foods, a Kenya B2B agritech startup has announced that it will invest $10 million into Twiga Fresh. This new subsidiary is dedicated to modern and commercial agriculture. The money will be obtained through debt partnership with Development Financial Institutions. This partnership is focused on primary agricultural and food security.
Twiga Foods aims to produce domestic horticultural staples, such as onions, tomatoes, and watermelons.
To launch the Twiga Fresh line of products, the company intends to sample one million Kilograms of fresh produce to customers under a 21-day promotion that commences on the 23rd of May 2022.
Twiga Foods says that every retailer participating in the program will receive produce at no charge to their doors. This is true for all sixteen towns and cities the firm has operations in Kenya. This will help increase their working capital.
“We will continue to run the B2B e-commerce business under Twiga, focused on building a one-stop supply-chain solution for informal retailers, delivering both Twiga and non-Twiga owned products. Twiga Fresh, in addition to our growing range of private label products, will ensure we drive growth in customer numbers and broaden the basket size by offering quality produce at a discount against prevailing market prices,” said Peter NjonjoTwiga CEO and Cofounder.
“The commodity-driven volatility in the world today is causing an unprecedented level of food inflation across the world. In Africa, we can least afford this disruption, and that is why we are excited about the imminent impact our technology-enabled supply chain will have in reducing the cost of food,” he added.